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DocuSign Shares Plunge Despite Revenue, EPS Beat -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — DocuSign Inc (NASDAQ:)Announced earnings per share at 58 cents for revenue of $545.5million According to analysts polled Investing.comOn revenue of $532.61 millions, EPS was expected to be 46cs.

DocuSign shares fell by more than 22% after the publication.

Billings reached $565.2 millions, representing a 28% increase year-over year. Subscription revenue was $528.6million, an increase 44% over year.

We were surprised by our third quarter revenue growth, 42% over the previous year and an operating margin of 22%. We saw our customers returning to normal buying habits after six quarters with accelerated growth. This resulted in an increase of 28% annually in billings,” stated Dan Springer CEO at DocuSign.

DocuSign is confident that it will deliver value in an ever-digital economy with a global TAM of $50 billion and 1.11 millions customers.

The company expects to see fourth-quarter revenue of between $557m and $563m, which is below the consensus estimate of $573.79m. Fiscal year 2020 revenue will be between $2.083 billion & $2.089billion.

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